The past few weeks might have presented the only chances left to enter into the ALT coins before a major retrace back up to resistance levels. If you take a moment to analyze each move, there have been some major spikes up throughout the years - with equally impressive drops. The 94% crash might have just been a major correction back to fair value until an increased user base and real world aplication could be established, allowing for sustainable growth. However focusing only on the charts we see price bouncing off a major support area and should expect a retrace back up. Each time LTC has a violent drop of 50% or more, there has been a major recovery. I have presented here a layout of possible moves by the end of the year. If BTC breaks up to $20,000 as expected, LTC could be reaching $240. The resistance of course is the previous high of $144. If LTC struggles at the major EMAs of the 1W chart we could begin to see a breakdown to the $40 range! The first thing we need to see if LTC breaking $100! The upper range of a parabolic rise could bring LTC to the limits of $500-$800!
Let me know what you think!
This is only my opinion! I am not a financial advisor!
Let me know what you think!
This is only my opinion! I am not a financial advisor!